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Updated almost 3 years ago on . Most recent reply

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Tina Rubin
  • Rental Property Investor
  • East Providence, RI
5
Votes |
20
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Letting tenant out of lease + adding turnover fee

Tina Rubin
  • Rental Property Investor
  • East Providence, RI
Posted

We have a tenant (RI) who has rented out a room in a shared apartment that would like out of their lease early. We are ok to allow this but want to charge a turnover fee which would equate to the same amount as the security deposit. I know the security deposit can only be used for damages so legally do we need to collect the fee from tenant prior to vacating?.

We're also wondering if we put in writing the following and they agreed via email if that's sufficient:

#1 they are still financially responsible until we are able to rent the space

#2 we're charging a turnover fee $1k to let them out of the lease early and collect that immediately

#3 security deposit will be returned according the the RI tenant laws (ie place is left in same condition as move in)

#4 room is made available at reasonable hours for showings/open house

Or do we need to hire an attorney to provide a lease addendum stating an early termination fee?

  • Tina Rubin
  • Most Popular Reply

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    Patricia Steiner
    • Real Estate Broker
    • Hyde Park Tampa, FL
    3,861
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    Patricia Steiner
    • Real Estate Broker
    • Hyde Park Tampa, FL
    Replied

    What does your lease state?  You can't impose a "new and improved, wish I had thought of this earlier and got it in the lease" fee now that it seems like a good idea.  If your state requires the security deposit to be used only for damages, don't play word/term games and rename a fee to meet your needs.  Manage to your lease.  My leases state that the early termination fine is 2 months of rent (the max allowed by Florida law).  Again, what does your lease state; the lease protects you from yourself and the tenant so if it states nothing on this topic, then I would recommend enforcing the lease term or simply letting the tenant out with some notice (30 days) while you show it during that time.  And, really, why have a lease at all if it's only being used as a move-in tool...run your business to the lease. Have a lease that has it all in there.  It's the difference between running a business and not.  

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